Bitcoin has been uh berry berry good to me.
IBTG
The Bitcoin fans are getting angry…..
More looting?
Mr. Armstrong,
A few years back my wife was going to buy a bitcoin but following your advice I talked her out it. She divorced me and took half my pension so now I work as a Walmart greeter.
Aren’t we most of the way there to a cashless society, regardless of bitcoin?
Every time you use a debit card, credit card, or write a check, the transaction is traceable somewhere.
My understanding is at the vast majority of transactions are not using actual currency or coins.
So even if we’re not cashless, at least not yet, many of our transactions are in a database somewhere. Or can be pulled together to create a financial dossier on all of us .
A lot of definitive statements.
Tell me how AI has “hacked” the bitcoin blockchain.
Tell me how 95% of all dollar denominated transactions are not dependent on the grid.
If you don’t want to buy into the whole Bitcoin thing, thats fine. But using definitive false statements or misleading ones at best, is simply disingenuous.
This guy spouts a lot of gibberish. Satoshi was demonstrably at the other end of the spectrum (a full bore libertarian and anti-statist cypherpunk). The whole point of bitcoin was to provide an alternative to government fiat currency, which it is doing.
1. Bitcoin provides anonymity so long as a link between your public keys and your real-world identity is not established. By contrast all electronic fiat transactions (which is about 95% of all fiat transactions) are tracked and recorded by central authorities (banks, credit card agencies and governments, etc.). Moreover, fully anonymous cryptocurrencies like monero provide heightened anonymity for those who seek it.
2. "most definitely vulnerable to a host of elements" - such as? The greatest vulnerability are the centralized exchanges that are gateways between the old fiat world and the crypto space. Once you are in the crypto space and move your funds to your own wallet you are not exposed to the thefts/hacks that CEX's are subject to. Note that those vulnerabilities are precisely the same as banks and other traditional fiat institutions are vulnerable to. Once in the crypto space you can rely on decentralized exchanges (DEX's) that never have custody of your funds and are thus much less of a vulnerability. The fiat world has nothing to match this, even in principle.
3. " especially hacking as our supercomputers can “ crack the code” with the help of AI." This is just gibberish. The value of bitcoin would go to 0 five minutes after such a hack or even if it was a realistic fear. Instead it has gone from 0 to ~$84,000/bitcoin precisely because it is so secure.
I am not opposed to Bitcoin or all the other electronic currencies, ( there are other more “ successful “ E currencies” out there)and If people want to spend their USD’s on thin air, fine with me.
The concept of electrons on a screen being “money”, is laughable. It can never be money, nothing more than a speculative instrument. The older and wiser simply aren’t buying into it.
Money is a medium of exchange. No more no less. It can take many forms. Bit-whatever is just the latest.
The government is not going to give up its monopoly over money. No government ever has and never will. Coinage is too profitable.
The fact that it’s digital and new and supposedly “mysterious” doesn’t make it invincible or inevitable.
As Buffet said it’s logical value $O.
And here is dinosaur me telling people to go to their ATM, take out $100, $200, $500, and USE it!
Do your part to keep the anonymity of cash alive.
They need to get rid of the cash to get ready for the mark of the beast.
Bitcoin is good stored value but wont replace money. Still cant do transactions in a timely manner.
A PENNY for your thoughts.
“If I pay you in Bitcoin, they can trace it to everyone who has ever handled it.”
False, The block chain contains no personal information.
Please update Socrates.
“I do know it does not facilitate anonymous transactions, “
FALSE.
As Madeline Kahn once said “It’s not the money, it’s the stuff”.
I guess I'm ignorant and old school. If you can't hold it in your hand, like gold, silver and dollars, then you hold nothing........